NEWARK, Del, March 19, 2024 (GLOBE NEWSWIRE) -- The global valve positioner market is expected to reach a respectable mark of US$ 3.3 billion by 2034, with a moderate advancement at a CAGR of 5.5%. The current market valuation, measured in 2024, is about US$ 1.9 billion. Numerous market forces influence the market path to achieve the forecasted benchmark.
The fundamental market driver for the given market incnludes the growth in technological infrastructure. Due to the enhancement in technological aids, the production of different valves, including butterfly, check, or control valves, has become efficient. Most market players favor accurate output, fueling market growth.
Control systems have been installed in various industries, including wastewater management plants, the energy sector, the oil and gas industry, and many more. These industries demand accurate controlling valves and actuators to control these systems. Thus, it is another market driver driving the subject market.
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Governments of different countries have been keen to maintain environmental standards. Therefore, waste treatment plants are established, like wastewater treatment plants. These plants surge the requirement for control valves. Due to this, the subject market is surged.
As the population increases, the industrialization also increases to meet their needs. The installation of control systems has surged, which drives the subject market. Additionally, these control systems focus on precise output regarding supreme control over different actions. This surges the production of valves and boosts the market.
Sustainability has been the prime focus, and energy-efficient solutions to various problems are demanded. Control systems looking for actuators and valves rely on devices to enhance energy savings, which surges the subject market.
Key Takeaways from the Market Study
- The South Korean market is promising advancement at a CAGR of 8.1%, a higher growth rate than any country.
- The United States is the largest country by market size, which accounts for US$ 584.9 million.
- The electro-pneumatic actuators segment contributes most to the valve positioner market. The market segment forecasts the progress at a 5.2% CAGR.
- The United Kingdom’s government emphasizes wastewater management treatment plants. This surges the subject market in the UK at a CAGR of 5.9%.
“Due to the increasing worldwide emphasis on sustainability, marketers seek energy-efficient alternatives for traditional systems, which motivates them to innovate existing systems. This is a key propeller for the said market,” opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI)
Competitive Landscape
Key marketers occupy significant market space in the valve positioner market. Their differentiated product portfolio strengthens their position in the market.
Strategic alliances, mergers and acquisitions, product differentiation, and partnerships are the strategic initiatives these marketers take to expand in the market.
Top 05 Key Players in the Valve Positioner Industry
- ABB Ltd.
- Emerson Electric Co.
- Flowserve Corporation
- Schneider Electric SE
- Azbil Corporation
The following are some of the key developments observed in the market: -
- In June 2024, Flowserve Corporation successfully conducted tests on its high-performance butterfly valves. This aims to bolster the organization’s market presence by creating a niche in different industries.
- In January 2024, Emerson Electric Co. introduced a new product to improve storage tank safety and reliability. This pilot-operated relief valve enhances the organization's existing product line.
- In February 2024, ABB Ltd. Initiated an acquisition process with SEAM Group. This strategic move can expand the business's market opportunities.
More Valuable Insights Available
Future Market Insights offers an unbiased global valve positioner market analysis, providing historical data from 2018 to 2022 and forecast statistics from 2024 to 2034.
The valve positioner market is segmented based on type (pneumatic, electro-pneumatic and digital), actuation (single-acting and double-acting) and industry (chemical, energy & power, food & beverage, metal & mining, oil & gas, paper & pulp, pharmaceutical and water & wastewater treatment) across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and the Middle East & Africa).
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Valve Positioner Market- Key Segments
By Type:
- Pneumatic
- Electro-Pneumatic
- Digital
By Actuation:
- Single-Acting
- Double-Acting
By Industry:
- Chemical
- Energy & Power
- Food & Beverage
- Metal & Mining
- Oil & Gas
- Paper & Pulp
- Pharmaceutical
- Water & Wastewater Treatment
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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